Donald and Etta orally agree on the sale of Donald's Electrical Supplies Company to Etta and jot down the terms on the back of one of Donald's blank invoices,which they both sign.A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain

Question

Donald and Etta orally agree on the sale of Donald's Electrical Supplies Company to Etta and jot down the terms on the back of one of Donald's blank invoices,which they both sign.A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain​

Quizplus · Accepted Answer

A written memorandum evidencing an oral contract only needs to contain the essential terms of the agreement, which are the crucial elements needed to form a binding contract, such as the subject matter, price, and payment terms. The preliminary or qualitative terms are not necessary for the enforceability of the contract, and including every detail in the memorandum is not required. Therefore, choice B is the best option.

Donald and Etta Orally Agree on the Sale of Donald's